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Yen Weakens Past 150 Per Dollar as Intervention Concern Mounts
The yen depreciated past the psychological support level of 150 against the dollar, putting traders on watch for possible intervention by Japan to prop up the currency. The Japanese currency slid to as weak as 150.05 per dollar after stronger-than-forecast US jobs data. It touched the weakest since October last year, and is trading in an area where authorities stepped in with purchases to support the yen last year for the first time since 1998. Masato Kanda, the top currency official at the Ministry of Finance, has said he’s keeping in close contact with his US counterparts, with both sides in agreement that ... (full story)